RNC Capital Management LLC Has $64.29 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

RNC Capital Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,085,899 shares of the network equipment provider’s stock after buying an additional 139,323 shares during the period. Cisco Systems accounts for 3.4% of RNC Capital Management LLC’s investment portfolio, making the stock its 5th largest position. RNC Capital Management LLC’s holdings in Cisco Systems were worth $64,285,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in Cisco Systems in the third quarter worth about $51,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup increased their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Down 0.5 %

Shares of CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company’s fifty day moving average is $59.59 and its 200 day moving average is $54.82. The stock has a market capitalization of $248.01 billion, a PE ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.